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Balmoral discovers new mineralization 7 km along strike from Grasset

Balmoral Resources Ltd. discovered three new zones of sulfide mineralization 7 kilometers northwest of and along strike from its polymetallic Grasset property in Quebec, with each zone returning nickel grades exceeding 1%.

The company said Jan. 17 that drilling on one of the new zones returned a highlight of 7.58 meters grading 1.05% nickel, 0.31% copper, 0.05% cobalt, 0.20 g/t of platinum and 0.48 g/t of palladium from a depth of 631.9 meters.

The result included a massive sulfide intercept comprising 0.65 of a meter grading 4.14% nickel, 0.26% copper, 0.18% cobalt, 0.81 g/t of platinum and 1.93 g/t of palladium.

Drilling also returned 3.94 meters grading 1.35% nickel, 0.46% copper, 0.07% cobalt, 0.30 g/t of platinum and 0.55 g/t of palladium from a depth of 510.6 meters. Results from another five drillholes are anticipated within two to three weeks.

Balmoral noted that the results are the first confirmation of type 1 komatiite-hosted nickel-sulfide mineralization in the region. Komatiite is a type of volcanic rock known to host nickel-copper mineralization.

The company is planning follow-up drilling focused on extending mineralization both updip and downdip.